Resignation & reappointment

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 November 2014 AGM Held on 29/08/2014
previous auditor offered to continue audit
But limitation by statute for 20 co. to audit.

Lately on 21/11/2014 auditor confirmed his position as not able to audit the same so how to deal with appointment of new auditor & resignation of old one ---Please suggest from ROC filing prospective, how to deal wih the situation.

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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26 November 2014 1. Intimate the proposed auditor(s) regarding the intention of appointing him/it as auditor and ask whether he/ it is eligible and not disqualified to be appointed as auditor of the company.
2. Obtain consent & certificate from auditor.
3. If Audit Committee required to be constituted under section 177, then obtain its recommendation (Section 139(11)).
4. Call Board meeting for the purpose of following:-
• Appointment of auditor in casual vacancy.
• Considering that the qualification & experience are commensurate with the size & operations of the company.
• Recommending the members to approve the appointment.
• Calling of EGM(to be held within 3 months from date of Board meeting).
5. Intimate the Auditor and file with ROC form ADT-1 within 15 days of EGM(since the appointment is not final until approval of members).

As per section 140(2) the Auditor who has resigned from the company shall file within a period of 30 days from the date of resignation, a statement in the prescribed form with the company and ROC indicating the reasons and other facts as may be relevant with regard to his resignation in form ADT-3

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